Budgeting & Debt
Learn how to manage your budget and reduce debt with practical guides on spending, saving, credit, and repayment strategies. Take control of your money and your life with confidence.
How to Avoid Overdraft & NSF Fees in Canada
Set up low-balance alerts on your chequing account, link a backup funding source like a line of credit, and use a financial institution like Neo that notifies you before a payment fails.
Consumer Proposal vs. Bankruptcy: How To Pick The Best Option for You
A consumer proposal tends to serve you better if you have a steady income and assets you want to protect.
The Truth About Government Debt Relief Programs in Canada
Two formal debt relief mechanisms fall under the Bankruptcy and Insolvency Act: the consumer proposal and the bankruptcy.
When Do Debt Collectors Take You to Court in Canada and How to Stop Them
If a collector contacts you about a debt that is past the limitation period, avoid engaging with them, since they lost the legal right to enforce repayment through the courts.
What Can a Debt Collection Agency Do in Each Province
They cannot use threatening, profane, or intimidating language, and they cannot misrepresent the situation or fabricate legal references to scare you into paying.
5 Surprising Things That Happen (And Don't Happen) When You Declare Bankruptcy
Most Canadians who file for bankruptcy don't lose everything they own. Yet, this myth, along with many others, persist because bankruptcy carries a stigma that discourages people from learning how the process actually works.
How to Keep Your House Through a Consumer Proposal in Canada
If your home equity in lower than the bankruptcy exemption in your province (less than $10,783 in Ontario, for example), your proposal can be lower than the amount you owe, even if you own house.